Insurance

[rwdbmwm3]

I was wondering how insurance in canada works
i remember trying to get 2 cars under my one parent (one for me one for them) but they said 2 cars cant be under 1 person, but ...how do people have a cruiser and also a fast car

[Simby]

I think it generally works such that if you have x # of cars in a household and there's the same x # of drivers in the household, everyone is a primary driver. If you live alone and you have 2 cars, one would be your primary, and one would be a part time.

Insurance companies are smart. They know what you're trying to do by registering 2 cars under 1 person as primary to save the younger driver insurance premiums.

[rwdbmwm3]

yeah i figured so much, i figured if you have 2 parents and 1 young adult that they wouldnt do something like
parent #1 - first car
parent #1 - second car
because im guessin they'd ask ..why do you need 2 cars?, also im guessin you cant do
parent #1 - car #1
parent #1 + parttime young adult - car #2


does the same rule apply for bikes?
for example lets say 2 people have M licence in house, parent + young adult
do you think insurance would let
parent primary - cruiser bike
parent parttime - sports bike

[propr'one]

Here's how it works. People ALWAYS argue with me, my broker told me this is how it works with my insurance company and almost all others.

you have drivers. Drivers are all X.


You have cars, cars are all Y.

Drivers are ranked from MOST risky (youngest, least experience, most accidents)
So X1, X2, X3 ... however many drivers you have.

cars are ranked from MOST expensive(newest, fastest, most likely to be crashed, most likely to be stolen)
Y1, Y2, Y3....

Driver X1 will be primary on car Y1 unless he/she sign a waiver that this driver wont drive that car (19A form AFAIK).
Driver X2 will be primary on car Y2 unless he/she sign a waiver
Driver X3 will be primary on car Y3 unless he/she sign a waiver

This is done until each driver is primary on one car. Once driver has a car, any of the drivers can be primary on the next car If |[x/\>y/\]| then x^|[y/\]|+1 can be primary on any car.

yay stupid math!

yay **** insurance companies.

[JPTN]

Insurance Bureau of Canada: http://www.ibc.ca/en/index.asp

[jstalin]

Originally Posted by propr'one

Driver X1 will be primary on car Y1 unless he/she sign a waiver that this driver wont drive that car (19A form AFAIK).
Driver X2 will be primary on car Y2 unless he/she sign a waiver
Driver X3 will be primary on car Y3 unless he/she sign a waiver

This is done until each driver is primary on one car. Once driver has a car, any of the drivers can be primary on the next car If |[x/\>y/\]| then x^|[y/\]|+1 can be primary on any car.

This is a pretty good explanation. A person can have as many cars insured under them as they can afford, but this is only as a primary driver. You can't have 2 cars and say your son is only driving the extra one occasionally, they have to be insured as a primary on one of them or they can't drive either.

A way around this is if the child has a different address than the parents, then they could technically 'borrow' the extra car anytime you'd still be covered.

[5style]

^ need to be 25 to borrow, or youre not covered. Its the biggest scam in the world, and its 100% legal.

[jstalin]

Originally Posted by 405Style

^ need to be 25 to borrow, or youre not covered. Its the biggest scam in the world, and its 100% legal.

It depends on the insurance company, some do this others don't. It's usually an option though, since having this clause lowers the premiums significantly

[propr'one]

^^not always, my insurance company has no age clause.